Nigeria Ranked 6th Among 20 Fastest Growing Economies In The World

A new survey released by world leading financial services firm, Bloomberg has ranked Nigeria, China, the Philippines, Kenya, India and Indonesia among the 20 fastest growing economies in the world this year.

The New York-based financial news-wire service ranked Nigeria sixth, with an expected growth rate of 4.9 per cent, behind China at 7 per cent, the Philippines at 6.3 per cent, Kenya at 6 per cent, India at 5.5 per cent and Indonesia at 5.4 per cent.

According to Bloomberg, the emerging markets of Asia and Africa have continued to dominate and are at the top of global growth projections over the next two years.

The survey showed that Nigeria, Africa’s largest economy, is projected to expand at 4.9 per cent this year, while Kenya will probably grow by 6 per cent in 2015, though unemployment and poverty remain stubbornly high, with over 40 per cent of Kenyans living below the poverty line.